Global Polyethylene Terephthalate Market research report: Information by Product (carbonated soft drink, bottled water, sheet & films, food, non-food and others) by Application (food and beverage, automotive, electronics, others) – Forecast till 2023
Pune, India -- (SBWIRE) -- 04/10/2018 -- Polyethylene Terephthalate are used in various end-use industries such as automobile, electronics, and food & beverage among others. The growing demand from the developing region throughout the globe are the major factors driving the global market of polyethylene terephthalate. The growing government inclination towards development of retail sector coupled with the augmenting demand from the automobile sector are other factors contributing to the growth of the market. Among the various end-user industry food & beverage is the dominant segment and expected to show the same trend during the forecast years.
The Global Polyethylene Terephthalate Market is segmented on the basis of product types and application. On the basis of product type, the market is segmented as carbonated soft drink, energy drinks, bottled water sheets & films, food and non-food and others. On the basis of application industry, the Global Polyethylene Terephthalate Market is segregated into food & beverages, electronics, automotive, and others.
The carbonated soft drink followed by bottled water product segment is the leading type in the market and is expected to show the same trend during the forecast years. On the basis of application, food and beverage is anticipated to be a dominant sector during the forecast years. The growing demand for convenience and on-the-go food products in the developing regions is attributing to the growth of the market.
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Some of the prominent players operating in the Global Polyethylene Terephthalate Market are Alpek S.A.B de C.V (Mexico), RTP company (U.S.), BASF SE (Germany), The Dow Chemicals Company (U.S.), Jiangsu Sanfangxiang Group (China), Indorama Ventures Public Company Limited (Thailand), M&G Chemicals (Italy), NAN YA PLASTICS CORPORATION (Taiwan), Far Eastern New Century Corporation (Taiwan), and The Quadrant group of companies (Switzerland) among others.
The Global Polyethylene Terephthalate Market is spanned across five key regions: North America, Asia Pacific, Latin America, Europe and the Middle East & Africa. Among these, Asia Pacific holds a major portion of the global market and is anticipated to continue its dominance during the forecast period. The developing end user industries in the region such as electronics and automotive is expected to fuel the market growth. Moreover, the favorable government schemes has resulted in the shifting of manufacturing base in the developing economies of Asia Pacific which has further propelled the market growth. The major countries attributing to growth of polyethylene terephthalate in this region are India, China and Japan. North America is the dominant region for the market Polyethylene Terephthalate. The developed end user industries coupled with the growing adoption of Polyethylene Terephthalate are the major factor contributing to the growth of the market. The key countries attributing to this growth are Canada and the U.S. European market of Polyethylene Terephthalate is mainly driven by the developed automobile and electronic industry. Moreover, the increasing use of Polyethylene Terephthalate in the packaging industry coupled with the growing demand for on-the-go food products is anticipated to further add to the growth of the market during the forecast years.
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